At a time of considerable change, this lecture will reflect on key case law and regulatory developments in 2019. Highlights include the review of pricing in general insurance by the FCA, ‘use of a vehicle’ in motor insurance, ‘malicious acts’ in marine insurance, and actions for fraudulent insurance claims beyond ‘forfeiture’.
James Davey is Professor of Contract & Commercial Law at the University of Southampton.
“Landfall of the Tech Storm” – How technology is changing client interaction – Legal issues in distribution, claims and insurance services & other key developments in insurance and reinsurance (an AIDA Europe Event).
For full details please click here (may require translation)
Smart Contracts for Insurance
Smart contracts technology has great potential to impact positively upon the design, formation and performance of insurance contracts. This lecture will explore potential uses of the technology within the insurance space and deal with legal issues that arise as a result, including both private law issues and regulation and compliance issues. The lecture is being scheduled to coincide with a report on smart contracts shortly to be published by Lloyd’s on which Dr Goldby is a contributing author.
Dr. Miriam Goldby is a Reader in Shipping, Insurance and Commercial Law, at the Centre for Commercial Law Studies, Queen Mary University of London. She is the Deputy Director of the Centre’s Insurance Law Institute and Director of its LLM in International Shipping Law in London. Apart from articles and book chapters, she has published three books: Electronic Documents in Maritime Trade (OUP, 2013), the second edition of which will be published in 2019; Systemic Risk and the Future of Insurance Regulation edited with A. Georgosouli, (Informa 2015); and The Role of Arbitration in Shipping Law, edited with L Mistelis (OUP, 2016). She is vice chair of ICC UK’s Commercial Law and Practice Committee and a member of the Comité Maritime International’s Standing Committee on the Carriage of Goods. She is also deputy editor of the British Insurance Law Association (BILA) Journal.
Over a decade since it last did so (in HLB Kidsons v Lloyd’s Underwriters), the Court of Appeal has recently re-considered the law relating to the notification of circumstances to claims made policies. Ben Elkington QC and Josh Folkard, who acted for the Insured, will review the decision in Euro Pools v RSA  EWCA Civ 808, and discuss its potentially significant implications for insureds, brokers and insurers.
With the insurance market going through a period of significant change Lloyd’s is responding to ensure the market is positioned to take advantage of those developments as it aims to remain the market of choice. Technological and market changes are impacting the coverholder model and against this context Lloyd’s is currently undertaking its most significant overhaul of its delegated authority oversight framework for over 15 years. The changes which Lloyd’s have announced are intended to make Lloyd’s approach more risk-based and flexible, while making it easier and cheaper to do business at Lloyd’s.
As Lloyd’s Head of Policyholder & Third Party Oversight, Paul Brady is responsible for leading this programme and he will be speaking to BILA about the work his team are undertaking and what it means for those who participate in the market or act as advisers to it. He will outline his view of the strategic importance of these changes and will provide details on the amendments Lloyd’s is making to the Intermediaries Byelaw covering: (1) risk-based oversight (2) Lloyd’s approval of delegated claims administrators (3) delegation of authority to non-coverholders, and (4) changes to the rules on sub-delegation.
Paul Brady is the Head of Policyholder & Third Party Oversight at Lloyd’s where he isresponsible for the market oversight of delegated underwriting, claims, complaints and conduct. Paul has held his current role since January 2017 and previously was the Head ofConduct where he oversaw the implementation of Lloyd’s Conduct Standards. Before thatPaul was in-house counsel at Lloyd’s where he was specifically responsible for advising ondelegated underwriting, intermediary regulation and corporate governance. He is also acontributing author to “Conduct Risk: A Practitioners Guide” and has spoken at numerousevents in the UK and overseas on coverholder and intermediary compliance. Paul is a qualified solicitor having graduated in law in 1993.
BILA is pleased to welcome back Bill Batchelor, a partner of Skadden Arps, to bring us up-to-date on the work of the competition team of the UK Financial Conduct Authority. This will include an examination of the FCA’s findings, published in February this year, from their market study which commenced in 2017. Bill will look at questions left unanswered by the FCA, compliance pointers and lessons for the insurance sector. Bill will also expand his talk to look at other hot antitrust topics for the industry including the FCA’s first eye-opening competition law fine for information exchange, demonstrating the slippery slope from market intelligence to cartel conduct, as well as antitrust compliance for facilities, big data and Insurtech.
Edward W. (Bill) Batchelor has 20 years of EU and U.K. competition law experience and focuses his practice on conduct investigations, including abuse of dominance, cartels and vertical agreements.
Law in the 21st Century: Satellite Technology & The Use of Visual Technologies in US Courtrooms